TECO Among Top 5% for Corporate Governance for 5th Straight Year
For the fifth straight year, TECO Electric & Machinery Co., Ltd. has been granted the honor of top 5% performance for corporate governance among the companies listed on Taiwan's stock market for 2018 by Taiwan Stock Exchange. During the awards ceremony today (May 28), Sophia Chiu, TECO chairman, pointed out that the company will continue to better its corporate governance, in line with its concept of sustainable development, so as to rack up a good business performance amid a rigorous international economy and bring investing public optimal benefits. TECO is one of the only 13 companies, as well as the only one in the electric and machinery category, which have managed to retain the honor for five consecutive years, a difficult task, given the adjustment of evaluation criteria every year.
Since assuming office in 2015, Sophia Chiu has been pushing corporate governance vigorously, in line with the concept of "integrity-oriented management, materialization of corporate governance, fulfillment of social responsibilities, and quest for sustainable development." In order to establish a good governance system and strengthen management function, the company set up corporate governance center in 2015, in charge of formulating the objectives for corporate governance, followed by formation of "committee for corporate governance and sustainable development" in Nov. 2018 and designation of a corporate-governance chief in 2019.
Taiwan Stock Exchange points out that retention of the honor of top 5% for corporate governance for five consecutive years underscore "high regard for corporate governance and constant effort to attain a high standard." TECO, for instance, would carry out self-evaluation according to various indicators of the stock exchange as the basis for improvement and disclose relevant information on its corporate website and in its CSR report. In the future, the company will continue its effort in corporate governance and social responsibilities, so as to attain the objectives of profit growth and sustainable development at the same time.